PB Fintech, the parent company of Policybazaar and Paisabazaar has been having a great run at the bourses. Shares of the fintech giant have gone up over 40% since the start of the year.
The stock performance comes as the company’s finances have been showing significant improvement. The company’s losses shrunk sharply to ₹8.9 crore in the March quarter, as compared to the ₹220 crore loss it reported in the same quarter of the previous year. The company’s revenue from operations jumped 61% year-on-year to ₹869 crore for the January-March period.
Post the results, brokerages also maintained their bullish stance on the stock. Domestic brokerage firm ICICI Securities maintained its ‘buy’ rating on the stock with a price target of ₹715. Citi also has a buy call on the stock with a target price of ₹820.
The Investment: If you invest ₹10,000 in PB Fintech today, with the stock trading at around ₹635 levels, you would receive around 16 shares of the company. Now, if PB Fintech continues the upward trend, and goes on to hit its IPO price of ₹980, the value of your 16 shares would surge up to ₹15,680.
The Risk: It’s important to note that the stock market is unpredictable and volatile. While PB Fintech’s recent performance is promising, there’s no guarantee that the stock will reach its IPO price again. Prior to the surge this year, the stock has had a rough ride at the bourses. The stock even slumped to its all-time low of ₹356.20 last November, down 63% from its IPO price.
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Price Action: PB Fintech’s share price jumped up 4.02% to close at ₹635 on Tuesday.
Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
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